First off, for anyone who doesn’t know, the envelop method is where you pull cash out for specific time periods of you budget. My personal method is to pull a set amount every Friday as my spending money for that week, but I’ve heard of people who do it by month or differently.
I’ve had a lot of success using this method to get my entertainment expenses down but started to realize that some months I would end up with more savings then others. Eventually I realized this was because some months have 5 weekends as opposed to 4.
So what I’ve started doing is keeping a spare envelop in my desk. If the week ends and I have extra spending money then I just put it in that envelop. If something comes up that I want to use a card for instead of cash (fandango movie tickets usually) then I put the appropriate amount of cash into the envelop.
Then, when the oddball 5th weekend comes along, I pull my weekend cash out of the envelop rather than from the ATM like normal. So the amount that I contribute to savings stays the same on normal and long months alike!
Submitted October 25, 2018 at 03:17PM by Kelcak https://ift.tt/2OPxbsw
